I’ve talked about colleges most likely to provide merit aid before. In this post I’m going to focus just on 50-50 schools and consider all financial indicators. For example, in previous lists I didn’t take into consideration PLUS loans. I also limited schools by test scores which I don’t do in this list.
Families that can’t afford to pay the sticker-price for private colleges need to do two things. The first is identify which schools are more likely to provide need or merit aid. The second is avoid those that are less likely to do so. This means steering clear of “dream” schools that may rank in terms of prestige but subsequently aren’t as generous with financial aid as some of their peers.
When creating their preferred list of colleges, many students are looking for schools that will include the “big city” experience. New York is the obvious choice. However, students shouldn’t overlook the nation’s 7th largest city, Philadelphia, just a 90 minute train ride to the south. Surely it can provide the requested “big city” experience at one of its 35 area colleges and universities. Furthermore, 16 colleges in Philadelphia have at least a 50% graduation rate while accepting at least 50% of applicants qualifying them as 50-50 schools.
I’m pretty sure the number of students who would want to attend college close to beaches and mountains and with sunny weather outnumbers those that don’t which is why many look for colleges in Los Angeles. With the area’s entertainment industry, international business connections, and tech development, Los Angeles has more than just its climate and geography to appeal to students. Maybe that’s why there are 49 colleges in the greater Los Angeles area (Combined Statistical Area) with 14 of them accepting at least 50% of students while having at least a 50% graduation rate qualifying them as 50-50 schools.
Going to college in Boston isn’t just for high school valedictorians, those with 10 AP classes on their transcripts, or those with test scores in the 90th percentile or higher. It’s only natural that you would assume so with names like Harvard, MIT, Tufts, Boston College, Wellesley, Northeastern, and Brandies dominating the higher education neighborhood. However, learning really is for everyone and there are 36 colleges in the greater Boston area with 500 or more full-time undergraduates. You do the math. Furthermore, a third of them are 50-50 colleges.
When students think about going to college in New York City, NYU and Columbia are usually the first colleges that come to mind. And then maybe Vassar and Fordham will be mentioned. Someone might think about the City Colleges. But for too many students, going to college in New York City is pretty much limited to these schools. Which is too bad since there 84 4-year colleges with at least 500 students in the greater New York area. And 21 of them are 50-50 schools.
One factor that will determine how much you pay for college is location. I’ve talked before about how students who insist only on schools in the northeast or on the coasts will pay for the privilege. Geography can actually be a hook depending on the location of the college and the student. Here, I’m going to cover how location can affect how much you pay to attend a public university.
The idea behind the 50-50 school listing is to identify colleges that meet a basic standard, graduation rates, while accepting more students than they reject. However, acceptance rates of 50% or better do not guarantee accessibility for many students. The fact is that the majority of the 50-50 schools are private and not all are generous with their financial aid.
As the cost of attending state flagship universities passes $30,000, many families are considering the financial benefits of starting at a community college and then transfer to a 4-year university. Combining living at home with paying only a third to half of the tuition of a 4 year public institution represents significant savings. However, those savings will exist only if students actual path in real life follows the plan–and that is far from being certain.
